Saudi Arabia reaffirms commitment to free-trade

Saudi Arabia has rejected protectionist policies and reaffirmed its position on free-trade as the only solution to the global financial crisis, in a statement from the Deputy Foreign Minister Prince Abdul Aziz bin Abdullah.

Saudi Arabia yesterday rejected protective policies and obstructions to free flow of international trade as a solution to global financial crisis.[2]

He stressed the need to find effective solutions to the global financial crisis [3]and increase in prices of essential commodities. “Saudi Arabia has called for tackling the impact of the crisis on the developing countries.”

Referring to the Saudi efforts to ensure food security and to bring down food prices, the prince said the Kingdom had contributed $ 500 million to the World Food Program to support poor countries.